Contractor Solution

1099 Income Loans

Qualify for a mortgage using your 1099 forms instead of tax returns. Perfect for independent contractors, freelancers, and gig economy workers with consistent client income.

Quick Program Overview

Documentation
1-2 years of 1099 forms
Loan Amounts
Up to $2M+ available
LTV
Up to 90% (10% down payment)
Closing Time
21-30 days typical

Who Qualifies for 1099 Income Loans?

1099 Income loans are designed for professionals who receive non-employee compensation.

Independent Contractors

Professionals working on contract basis

  • IT consultants
  • Healthcare contractors
  • Construction professionals
Gig Economy Workers

Platform-based income earners

  • Rideshare drivers (Uber, Lyft)
  • Delivery drivers (DoorDash, Instacart)
  • Freelance platform workers
Commission-Based Professionals

Sales and service professionals

  • Real estate agents
  • Insurance agents
  • Sales representatives

1099 Income Loan Requirements

Minimum Requirements

  • Credit Score: 620+ (680+ for best rates)
  • Down Payment: 10-20% minimum
  • Work History: 2+ years as 1099 contractor
  • Reserves: 2-6 months PITI

Required Documents

  • 1-2 years of 1099 forms (MISC, NEC, or K)
  • Year-to-date income documentation
  • 2 months asset statements
  • Government-issued ID

1099 Income Loan FAQs

Get answers to common questions about 1099 Income mortgages

A 1099 Income loan is a Non-QM mortgage that uses your 1099 tax forms to verify income instead of traditional W-2s or full tax returns. This is ideal for independent contractors, freelancers, gig workers, and real estate agents who receive 1099-MISC or 1099-NEC forms from their clients.
Most lenders require 1-2 years of 1099 forms to verify income. Some programs accept just 12 months of 1099s, while others may require 24 months for better rates. The income is typically averaged over the period provided.
Minimum credit score requirements typically range from 620 to 680, depending on the lender and loan amount. Higher credit scores (700+) qualify for better interest rates and terms. Some lenders offer programs for scores as low as 600 with larger down payments.
Lenders typically average your 1099 income over the documentation period (1-2 years). Unlike bank statement loans, 1099 programs use the gross income reported on your forms. Some lenders may apply an expense factor if you also provide bank statements.
Yes, many lenders allow you to combine 1099 income with W-2 income or other income sources. This can help you qualify for a larger loan amount. Each income source will be documented according to its type.
Lenders typically accept 1099-MISC, 1099-NEC (non-employee compensation), and 1099-K (payment card transactions). Real estate agents can use 1099s from their brokerage. The key is that the income is consistent and verifiable.
Yes, 1099 loans typically have rates 0.5% to 1.25% higher than conventional mortgages due to the alternative documentation. However, rates are generally more competitive than Bank Statement loans since 1099s are IRS-reported income.
1099 Income loans are ideal for independent contractors, freelancers, gig economy workers (Uber, DoorDash, etc.), real estate agents, insurance agents, consultants, and anyone who receives the majority of their income via 1099 forms rather than W-2s.

Ready to Use Your 1099 Income?

Find out if you qualify for a 1099 Income loan. Get matched with lenders who specialize in contractor and freelancer mortgages.